Hyster-Yale Materials Handling, Inc. (HY) To Go Ex-Dividend on November 29th

Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.35 per share by the industrial products company on Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Friday, November 29th.

Hyster-Yale Materials Handling has raised its dividend payment by an average of 0.7% per year over the last three years and has increased its dividend every year for the last 13 years. Hyster-Yale Materials Handling has a payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hyster-Yale Materials Handling to earn $5.39 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 26.0%.

Hyster-Yale Materials Handling Price Performance

NYSE:HY opened at $57.03 on Wednesday. Hyster-Yale Materials Handling has a 12-month low of $47.05 and a 12-month high of $84.44. The company’s 50-day moving average is $61.36 and its two-hundred day moving average is $66.07. The firm has a market cap of $998.60 million, a price-to-earnings ratio of 6.40 and a beta of 1.32. The company has a current ratio of 1.36, a quick ratio of 0.61 and a debt-to-equity ratio of 0.46.

Hyster-Yale Materials Handling (NYSE:HY) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. During the same period last year, the company posted $2.06 earnings per share. Research analysts expect that Hyster-Yale Materials Handling will post 8.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Roth Mkm cut their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Northland Capmk lowered shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.00.

Hyster-Yale Materials Handling announced that its board has authorized a share buyback program on Monday, November 18th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 5.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

About Hyster-Yale Materials Handling

Hyster-Yale, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. The company manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. It markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.